Sui processed $65 billion in stablecoin transfers in roughly five days starting June 10, 2026, per data from blockchain security firm CertIK. The catalyst: a May 2026 protocol update by Mysten Labs that cut stablecoin transfer fees to zero and removed the requirement to hold SUI token as gas.
The volume points to payment infrastructure, not trading activity. At roughly $13 billion a day, the pace sits well above typical DEX throughput and aligns with the corridors Sui is targeting: B2B settlement, remittances, and institutional stablecoin flows.
Mysten Labs eliminated the fee to clear a structural barrier. Under the prior model, even a fractional gas cost forced senders to hold a second asset, write fee-management logic, and monitor gas balances alongside the stablecoin they were actually moving. Co-founder Adeniyi Abiodun put it plainly: "Even at 1/1000th of a cent, gas forces you to hold reserves, build payment logic, monitor balances, and account for a second asset just to move the first," per Grafa.
One caveat: a five-day window is easy to inflate. A single institution routing large settlements or an aggregator switching default chains can move billions without broad user growth. Daily active address data would confirm whether participation kept pace with throughput; that figure was not available in the sources reviewed. The $65 billion should be read as a throughput signal, not a headcount.
The figure sits against a larger base: Sui processed over $1 trillion in stablecoin volume since August 2025 per the Sui Foundation, and $2.27 trillion total since early 2024 per CertIK. The five-day figure reflects pace on that base, not a cumulative total.
